I'm looking at spending $5-6,000 over the next year bringing some of them technical skills back up to date and was told by the school that my educational expenses may be tax deductible, but that's all they knew. Does anybody have any more information? Among my questions:

Are my expenses deductible in the year I go to school or in the year I pay back my student loan?

Is the interest on the student loan deductible?

Do I have to exceed some minimum dollar or percentage figure to be deductible?

My current employer is going to reimburse me for a couple of the classes. I assume that won't be deductible because I won't be paying that money myself, but will it affect the deductibility of what I DO spend?

I figure $5,000 now to get a $25,000-30,000 raise in 1-2 years in money Foolishly spent! But if I can get part of that back from the government, all the better.

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